Investing in Real Estate in Croatia

In the Southern part of Europe lies a precious gem of a country called Croatia. During the past few years, the tourism industry in the Republic of Croatia has been experiencing a boom. This phenomenon is not anticipated to die down in the short to medium term. The statistics of visitors touring the different cities in this country are registering an upward trend. In fact, based on a recent study ranking the well-known tourist destinations all over the world, Croatia impressively belongs to the top 20. First time as well as repeat vacationers continue to come in to have a taste of the sights and sounds that are available in this beautiful and refreshing country.

The appeal of Croatia has enticed many travelers to make their stay more permanent by taking residence in the country’s various cities such as Dubrovnik, Istria, Split, and Zagreb, among many others. Although you have the option to enter into rental agreements with the locals for your accommodations, some people prefer to own their houses or apartments. In this case, they can go back to Croatia anytime they want. If you are a foreigner but interested to purchase real estate holdings in any of the cities in this country, you must be adequately knowledgeable about the proper procedures you must take to ascertain the legality of your acquisition.

As a prospective buyer, you ought to know that the real estate situation in Croatia is currently undergoing some changes with respect to the costs of properties. The notion that you can buy a piece of land or house at a much lower price is now being challenged. This is attributable to the development that there is a growing demand for lands, homes, villas, and apartments. The residents as well as the developers are becoming aware of the attraction that Croatia has on the numerous tourists. Hence, they are capitalizing on this interest to raise the land and building prices that are offered in the market.

According to the studies made regarding the real estate in Croatia, the indicators reveal that price of the properties are increasing by at least 20% up to a maximum of 30%. The most expensive and prime properties are located in the country’s capital of Grad Zagreb. This is not surprising as this city is equipped with all the main facilities that a citizen needs without sacrificing the cultural structures that can be discovered in this place. Individuals who are fascinated in learning more about the Diocletian Palace can relocate to Split where this historic site can be found. However, a major concern in acquiring property in Split is the authenticity in the title so buyers must verify with the appropriate government agency. Having your own little haven in the Istrian peninsula is certainly a dream come true for the present inhabitants.

As a foreigner, you need to establish contact with a local Croatian real estate agent to assist you in your planned purchase. This way, you will know the additional expenses attached in closing your transaction. You should also hire a lawyer, if you do not have one, so that your interest will be amply protected during the negotiation and afterwards.

Related posts